My family just bought a new house and the roof looks like it would need replacing in the near future ( 1 yr? )
Anyway, we're in no way experienced with any kind of home improvement ( first house ) but we're not bad with a hammer.

We are looking to do new shingles, and new roofing felt.

The house is a cape style, so it's only about 10 feet off the ground. And I'm not afraid of heights.

I want to do it all by ourselves ( very big on DIY ). Would it be too hard?
I've bought a general home improvement book, watched some videos it doesn't seem impossible... I would like to hear what you guys have to say.
Also please post up some good instructional videos, articles, w/e.

Welcome, glad to help....with advice that is.
You will need staging as the roof pitch will be to steep for working. You could buy it an then sell it when you are finished.
The shingles have the instruction on the package, follow them and you will be OK.

Get ready for alot of hard work, I would strip the old ones off and start fresh.

Definitely strip first and start with new, that way you know what you are starting with. Chalk lines on the paper where the top of the shingles will go, so that you stay level (if you just follow the lines on the paper there is no guarantee). I agree with InspectorD, get some staging (usually just a 2x8 or so and the hangers that you nail on the roof) if your roof is much more than 4/12.

Alright so staging is a definite thumbs up... and what 'bout renting some scaffolding from places like home depot??
So on a level of 1-10, how hard would be the whole project be, from buying the materials to installing and finishing? ( keep in mind that I am new to houses but not with hammers )